We're buyers | 04 August 2021
04 August 2021, EUR/USD
Wave Analysis:
Few days ago, euro bounced off from the lower trendline, headed straight to the upperside and is still pretty much bullish. According to the daily chart attached, we are expecting further momentum to the upperside but should not go above the upper trendline. A rise beyond the upper trendline will push the price much higher towards 1.25. On the otherside, if the price breaks below the same trendline, then we will be looking for further momentum to the lowerside.
Trade recommendations:
We're buyers
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
